Revenue growth remains highly volatile, fluctuating between a 26.0% increase in 2026Q1 and a 19.5% contraction in 2025Q2, while net margins reached a low of -136.8% in 2025Q1.
| Sales/Revenue | 66.73M | 63.06M | 59.68M | 54.25M | 46.47M | 41.96M | 40.28M |
| Revenue Growth % | 15.28% | 5.67% | 10.02% | 16.72% | 10.75% | 4.18% | - |
| Cost of Goods Sold | 14.06M | 13.69M | 12.04M | 9.35M | 8.89M | 8.65M | 8.67M |
| COGS % of Revenue | - | 21.71% | 20.18% | 17.24% | 19.12% | 20.62% | 21.53% |
| Gross Profit | 52.67M | 49.37M | 47.64M | 44.89M | 37.59M | 33.31M | 31.61M |
| Gross Margin % | 78.94% | 78.29% | 79.82% | 82.76% | 80.88% | 79.38% | 78.47% |
| Gross Profit Growth % | - | 3.64% | 6.12% | 19.43% | 12.84% | 5.39% | - |
| Operating Expenses | 83.12M | 63.04M | 87.92M | 43.76M | 39.46M | 36.85M | 27.97M |
| OpEx % of Revenue | - | 99.96% | 147.31% | 80.67% | 84.91% | 87.81% | 69.43% |
| Selling, General & Admin | 51.34M | 52.34M | 55.87M | 30.59M | 26.45M | 23.31M | 16.81M |
| SG&A % of Revenue | - | 82.99% | 93.62% | 56.39% | 56.92% | 55.54% | 41.73% |
| Research & Development | 33.82M | 29.86M | 20.74M | 13.17M | 12.45M | 13.54M | 11.16M |
| R&D % of Revenue | - | 47.35% | 34.75% | 24.28% | 26.78% | 32.26% | 27.7% |
| Other Operating Expenses | -1000K | -19.16M | 11.31M | 0 | 560K | 0 | 0 |
| Operating Income | -30.45M | -13.67M | -40.28M | 1.13M | -1.87M | -3.54M | 3.64M |
| Operating Margin % | -45.63% | -21.68% | -67.49% | 2.09% | -4.03% | -8.43% | 9.04% |
| Operating Income Growth % | - | 66.06% | -3651.94% | 160.54% | 47.03% | -197.14% | - |
| EBITDA | -26.14M | -10.2M | -38.99M | 1.74M | -1.32M | -2.37M | 4.46M |
| EBITDA Margin % | -39.18% | -16.17% | -65.34% | 3.2% | -2.84% | -5.66% | 11.07% |
| EBITDA Growth % | 56.92% | 73.84% | -2347.49% | 231.24% | 44.31% | -153.23% | - |
| D&A (Non-Cash Add-back) | 4.3M | 3.47M | 1.28M | 601K | 551K | 1.16M | 820K |
| EBIT | -29.2M | -13.67M | -38.02M | 1.13M | -1.87M | -1.26M | 3.64M |
| Net Interest Income | 920K | 1.25M | 2.08M | -624K | -355K | -317K | -784K |
| Interest Income | 1.13M | 1.95M | 2.98M | 0 | 0 | 0 | 0 |
| Interest Expense | 97K | 697K | 899K | 624K | 355K | 317K | 784K |
| Other Income/Expense | -859K | -30.98M | 1.36M | -624K | -355K | 1.96M | -784K |
| Pretax Income | -31.31M | -44.65M | -38.92M | 510K | -2.23M | -1.57M | 2.86M |
| Pretax Margin % | -46.92% | -70.79% | -65.21% | 0.94% | -4.79% | -3.75% | 7.09% |
| Income Tax | -3.52M | -3.44M | 484K | 826K | 1.7M | 270K | 306K |
| Effective Tax Rate % | 11.23% | 7.7% | -1.24% | 161.96% | -76.3% | -17.14% | 10.71% |
| Net Income | -27.79M | -41.21M | -39.4M | -316K | -3.93M | -1.84M | 2.55M |
| Net Margin % | -41.65% | -65.34% | -66.03% | -0.58% | -8.45% | -4.4% | 6.33% |
| Net Income Growth % | 53.72% | -4.57% | -12369.62% | 91.96% | -112.9% | -172.35% | - |
| Net Income (Continuing) | -27.79M | -41.21M | -39.4M | -316K | -3.93M | -1.84M | 2.55M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.89 | -1.39 | -1.53 | -0.01 | -0.14 | -0.04 | 0.06 |
| EPS Growth % | 59.74% | 9.15% | -13683.78% | 92.07% | -221.1% | -173.03% | - |
| EPS (Basic) | - | -1.39 | -1.53 | -0.01 | -0.14 | -0.04 | 0.09 |
| Diluted Shares Outstanding | 31.37M | 29.74M | 25.67M | 28.53M | 28.53M | 42.34M | 42.72M |
| Basic Shares Outstanding | 31.37M | 29.74M | 25.67M | 28.53M | 28.53M | 28.53M | 28.53M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Persistent Operating Losses
According to the provided quarterly income statements, Silvaco's revenue growth has exhibited significant volatility, fluctuating between a 26.0% increase in 2026Q1 and a 19.5% contraction in 2025Q2, suggesting that the company's top-line performance remains highly sensitive to irregular licensing cycles and project-based service delivery.
The lack of consistent sequential growth indicates that Silvaco may struggle to maintain a predictable recurring revenue base, which is essential for scaling in the competitive EDA software market. Investors should monitor whether the recent 26% growth in 2026Q1 represents a sustainable shift toward subscription-based models or merely a temporary spike from lumpy, non-recurring IP transactions.
As reported in financial statements, Silvaco maintains robust gross margins, averaging approximately 78% over the last ten quarters, which highlights the inherent scalability of its software-centric business model despite the company's inability to translate this gross profitability into positive operating income at the current revenue scale.
While the gross margin profile is comparable to industry leaders like Synopsys, the persistent operating losses suggest that the company's cost structure is currently misaligned with its revenue generation capabilities. This disparity implies that Silvaco may be over-investing in R&D or SG&A relative to its market reach, necessitating a more disciplined approach to expense management to achieve long-term viability.
Based on Silvaco's reported figures, SG&A and R&D expenses frequently exceed gross profit, as evidenced by the 2025Q2 period where SG&A alone reached $12.8 million against a gross profit of only $8.5 million, indicating a structural reliance on high operating expenditures to sustain its technical moat.
The company's cost structure appears heavily weighted toward specialized engineering talent and administrative overhead, which may be necessary to defend its niche in TCAD but currently prevents the realization of operating leverage. Without a significant expansion in revenue, the current level of spending may continue to erode shareholder value and necessitate further capital infusions.
Data from recent filings reveals that Silvaco's net income is frequently impacted by significant non-operating items and stock-based compensation, with net margins reaching as low as -136.8% in 2025Q1, suggesting that reported EPS figures may not accurately reflect the underlying operational health of the business.
The frequent swings between profitability and deep losses suggest that the company's bottom line is highly sensitive to accounting adjustments and one-time charges. Analysts should exercise caution when evaluating EPS, as the current dilution and non-operating volatility make it difficult to discern a clear path toward sustainable GAAP profitability.
A critical review of the income statement suggests that Silvaco's inability to achieve consistent operating leverage, even during periods of revenue growth, may indicate a fundamental weakness in its commercial strategy that could lead to continued margin compression and potential liquidity risks in the near term.
Short-sellers might focus on the company's persistent cash burn and the high probability that its niche market position is insufficient to support the current cost base. If the company fails to demonstrate a clear inflection point toward positive operating margins, the market may continue to discount its valuation relative to more diversified and profitable EDA peers.
Quick answers to the most common questions about buying SVCO stock.
For fiscal year 2025, Silvaco Group, Inc. Common Stock (SVCO) reported total revenue of $63.1M. This represents a 56.6% increase compared to $40.3M in 2020.
Silvaco Group, Inc. Common Stock (SVCO) reported a net loss of $41.2M for the fiscal year ending 2025.
Silvaco Group, Inc. Common Stock (SVCO) reported an operating income of $-13.7M, resulting in an operating profit margin of -21.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Silvaco Group, Inc. Common Stock (SVCO) generated $49.4M in gross profit for the year, representing a gross profit margin of 78.3%. This demonstrates the company's core pricing power and production efficiency.